Sustainable Growth Through Strategic Acquisition
Acquisition Highlights:
Building Stronger Partnerships
Riedman’s acquisition strategy involves sourcing underperforming yet well-located properties and leveraging extensive development expertise to add value that benefits all parties involved. Riedman currently plans to invest $200+ million in the purchase of multi-family communities. To find properties of the ideal quality, type, size, and location, our company is ready to partner with brokers and sellers who can help us successfully execute our acquisition strategy.
Proven Success
Prime Locations
Riedman prefers properties located in tertiary markets across the upper Midwest, Northeast, and Mid-Atlantic regions. Current properties span across Erie, PA, and Upstate NY including the Greater Buffalo and Rochester Areas and Southern Tier and Finger Lakes Regions.
Expertise You Can Trust
Riedman’s strength stems from our connections to the communities we serve. When you choose Riedman you can trust you are working with a company with years of experience in multifamily housing that is committed to delivering exceptional service and quality.
Personal Attention
Riedman’s goal with every acquisition is to create an inviting and comfortable atmosphere for residents and to be a responsible, valuable addition to the community.
Strategic Acquisition Starts With Clear Standards
Riedman is working with brokers and sellers of properties that meet these key criteria:
We seek garden-style apartment buildings with 200+ units, typically 2-4 stories, ideally constructed with brick. Our focus is on Class B or C communities with value-add opportunities or redevelopment potential. We are particularly attracted to properties built by original builders, are family-owned, have barriers to entry, located in tertiary markets that near older housing stock with potential for rehabilitation.
Riedman respects brokers’ efforts and involvement and is always mindful of rightful agency and commissions due to them. When the broker has an authorized agency from the owner, Riedman will honor that agency and endeavor to protect it. If an owner has not previously agreed to pay a commission, Reidman may enter into an arrangement to pay a buyer broker to act on its behalf.
Riedman will pay cash or take over an existing mortgage and takes pride in conducting straightforward due diligence within 30-45 days and fulfilling commitments as promised.
Once Riedman has received property name, address, location map, comprehensive property description including unit breakdown and asking rent per unit, existing rent roll, applicable financing details, color photographs, and site plan or survey, we will promptly respond to arrange a confidential meeting with brokers and/or owners to discuss potential transactions.
Submit information to:
John E. Smith, CCIM, CCS
Chief Investment Officer
Direct 585-329-6111
Jsmith@riedman.com
Acquisition Portfolio
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